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President Joe Biden’s administration announced Friday it’s purchasing 6 million more barrels of crude oil for the Strategic Petroleum Reserve as it continues to slowly refill the emergency stockpile. The purchases, scheduled for October and November, come as the nation’s oil reserve is at its lowest point in 40 years …

Gold price has moved higher near $1,915.00 ahead of US NFP data. After the NFP data release that missed expectations and indicated the addition of 309k jobs in the US during June, gold touched $1,925 per ounce. S&P500 futures are consistently extending losses as investors are anxious ahead of the …

The US dollar weakens across the board after the US official jobs report. The EUR/USD pair gains momentum after breaking above 1.0930. The pair is heading for its highest weekly close since May.The EUR/USD pair gained momentum amid a weaker US Dollar following the release of US employment data. After …

In an interview with CNBC on Friday, Chicago Federal Reserve Bank President Austan Goolsbee said that they don’t need a recession to eliminate inflation concerns, per Reuters.These comments were not able to help the US Dollar find demand. As of writing, the US Dollar Index was down 0.72% on the …

Canada’s dollar claws back losses suffered overnight after underwhelming NFP data bursts Thursday’s optimism. The Canadian simultaneously surges with crude oil prices after oil-related data shows a fall in stockpiles. The USD/CAD is trading at 1.3289 at the time of writing.The USD/CAD pair’s trend is now bullish both on shorter …

The Kingdom of Saudi Arabia announced on Friday that it will raise the selling prices of its crude oil to most of its customers in Asia during the month of August, for the second month in a row, after announcing at the beginning of this week the extension of the …

European stocks fell on Friday, continuing the heavy losses incurred in the previous session, in the wake of US data that showed that the labor market remains strong, while investors await an important report on US jobs, which is scheduled to be issued later in the day, to search for …

Dollar index futures moved in narrow ranges on Friday as investors awaited a key report on US jobs and assessed the possibility of the Federal Reserve raising interest rates for a longer period in light of economic growth expectations. The US Nonfarm Payrolls report is due later on Friday, while …

Oil, Crude, trading

As we expected, the Canadian dollar made significant gains yesterday, touching the required profit-taking areas at 1.3365, recording its highest level at 1.3372. From the point of view of technical analysis today, and by looking at the 4-hour chart, we find that the 14-day momentum indicator continues to defend the …